Airbnb (NASDAQ:ABNB) Price Target Raised to $159.00 at Bank of America

Airbnb (NASDAQ:ABNB) had its price objective boosted by Bank of America from $154.00 to $159.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. TD Cowen increased their price target on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Citigroup increased their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Truist Financial dropped their price target on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Benchmark restated a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Friday, November 8th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.48.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $1.09 during mid-day trading on Wednesday, reaching $128.63. 1,236,062 shares of the company’s stock were exchanged, compared to its average volume of 4,496,748. The firm has a market capitalization of $81.55 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The firm has a 50-day moving average price of $135.78 and a two-hundred day moving average price of $134.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm posted $2.39 EPS. Analysts predict that Airbnb will post 3.99 EPS for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value of $68,005.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,307 shares of company stock worth $72,926,063. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ABNB. Retirement Systems of Alabama increased its position in shares of Airbnb by 5.7% during the third quarter. Retirement Systems of Alabama now owns 341,031 shares of the company’s stock valued at $43,246,000 after buying an additional 18,407 shares during the period. Tri Ri Asset Management Corp purchased a new position in shares of Airbnb in the 3rd quarter valued at approximately $6,352,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Airbnb during the third quarter valued at approximately $648,000. Virtu Financial LLC purchased a new stake in Airbnb in the third quarter worth $609,000. Finally, Advisory Resource Group lifted its position in Airbnb by 25.7% during the third quarter. Advisory Resource Group now owns 10,434 shares of the company’s stock valued at $1,323,000 after buying an additional 2,131 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.